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  • BEIJING, Feb 25- China will allocate 100 billion yuan over two years to relocate workers during China's industrial restructuring, the Ministry of Industry and Information Technology said on Thursday. Relocating workers was the main problem that needed to be solved in restructuring Chinese industry, vice-minister Feng Fei told a news conference in Beijing.

  • The restructuring will result in charges and associated cash payments of about $300 million in the current year, the company said. "This move is basically HP Inc embracing the tough pricing environment and shifting their focus to building their portfolio," says Shannon Cross, an analyst for Cross Research. The company, which is reporting results independently...

  • The world's largest construction and mining equipment maker will create an Electric Power, Marine and Oil& Gas Division by consolidating the Electric Power and Marine& Petroleum Power Divisions, it said on Wednesday. Steve Niehuas, currently vice president of the Electric Power Division will retire after 27 years with the company. We'll evaluate those in the...

  • *Cuts capex to $900 mln- $1 bln from $1.5 bln- $1.7 bln. The oil and gas producer cut its capital budget for 2016 to $900 million- $1 billion from $1.5 billion- $1.7 billion it forecast earlier as a steep drop in oil prices forces the company to focus on core assets and lower costs. The company is focusing on the Permian and Eagle Ford shale fields in Texas, and the Duvernay...

  • Feb 24- Canada's Encana Corp cut its capital budget and production target for 2016 and said it would slash more jobs as the company struggles to cope with a steep fall in oil prices. The oil and natural gas producer also slashed its capital spending target to $900 million- $1 billion from $1.5 billion- $1.7 billion it forecast earlier. Excluding items, the company...

  • The company said in October that it had hired Goldman Sachs Inc to advise on its options, including a sale. The restructuring is expected to generate about $67 million in savings in 2016 and annualized savings of about $100 million beginning in 2017, Lexington, Kentucky- based Lexmark said. The company also reported a 5 percent drop in revenue to $968.8 million...

  • *Posts annual pretax loss of $1.5 billion. *Underlying pretax profit $800 mln vs forecast of $899 mln. LONDON, Feb 23- Standard Chartered reported its first annual loss since 1989 as hefty restructuring costs and weak commodity prices took their toll on the emerging markets-focused lender.

  • Feb 17- Yahoo Inc on Wednesday said it would cut more than 300 jobs by April 18, as part of 1,500 layoffs announced earlier, San Francisco Chronicle reported. The company also plans to shut down its Burbank office, affecting 90 employees, according to San Francisco Chronicle. The layoffs affect people in Yahoo's media division, as well as employees in other roles...

  • NetApp said it expected a profit of between 55 cents and 60 cents per share for the current quarter. Net income fell to $153 million, or 52 cents per share, in the third quarter ended Jan. 29 from $177 million, or 56 cents per share, a year earlier. Analysts estimated a profit 68 cents per share on revenue of $1.45 billion.

  • Feb 17- American Express Co said it would overhaul its management, streamline its marketing operations and cut jobs as it looks to reduce $1 billion in costs over the next two years. "At this time, we do not know what the magnitude of those reductions will be, as decisions on specific positions affected are yet to be made," AmEx Chief Executive Kenneth Chenault said.

  • *Quebec government drops lawsuit against Air Canada. MONTREAL, Feb 17- Bombardier Inc said it received the first order in 16 months for its CSeries aircraft, sending its shares up as much as 30 percent and overshadowing news of the planemaker's lower-than-expected quarterly results and plan to cut 7,000 jobs. The Quebec government, which gave Bombardier a $1...

  • Bombardier said it would slash about 7,000 jobs over the next two years and ramp up hiring to support production of its struggling CSeries program.

  • *Forecasts 2016 rev of $16.5 bln- $17.5 bln, vs est $18.07 bln. Montreal- based Bombardier now has 678 total orders and commitments for the CSeries, including 243 firm orders. The company expects to record $250 million- $300 million in restructuring charges in 2016 in connection with the layoffs.

  • Yahoo layoffs begin today

    The Silicon Valley Internet giant is slashing up to 1,500 jobs or 15 percent of its staff.

  • CAPE TOWN, Feb 11- From Ebola to Islamist insurgents to social unrest triggered by the global commodity downturn, mining firms operating in West Africa face mounting security challenges, analysts and executives say. "As mining companies lay off employees to protect their balance sheets as a response to the global commodity downturn, there is an increased risk...

  • SEATTLE, Feb 10- Boeing Co said on Wednesday it will cut jobs at its commercial airplane unit, addressing intense pressure to lower costs to compete with rival Airbus even as the aviation industry booms. Boeing Commercial Airplanes Chief Executive Ray Conner announced the move in an employee webcast after the world's biggest aircraft maker saw sales fall and...

  • SAN FRANCISCO, Feb 10- Yahoo Inc announced Wednesday it will lay off 107 employees in the first of what is expected to be more than 1,500 job cuts. The layoffs take effect April 11 and affected employees received 60- day advance notice of the move, Yahoo said in a notice filed with the California Employment Development Department. Yahoo had about 11,000 employees...

  • NEW YORK, Feb 9- The chief investment officer of Apex Capital is departing to launch a new technology-focused hedge fund, causing a restructuring of his old firm, according to a letter sent to Apex clients and a person familiar with the situation. That new firm is SoMa Equity Partners, and will led by current Apex chief investment officer Gil Simon.

  • TORONTO, Feb 5- BlackBerry Ltd is cutting 200 jobs at its hometown headquarters in Ontario and in Florida in order to trim costs, it said on Friday, as the smartphone maker moves to turn around its fortunes and put more emphasis on its enterprise software business. The layoffs will affect 75 manufacturing jobs in Sunrise, Florida, a state government website showed.

  • WASHINGTON, Feb 4- The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff. It looks like the labor market has scaled back its rapid advance last month, "said Chris Rupkey, chief economist at MUFG Union Bank in New York.